This way I get paid upfront for my work 1-2k plus I know I have another payday at some point in the future if the deal closes.The costs to fully develop a property and sell for near retail usually involves the costs below and takes 2-6 months or more in some cases, but the profits can be huge if you're working in markets where land costs are high:Title 200-400Legal 500-2000 depending on zoning issuesIf wetlands are present AND its a buffer zone project: 2000-5000Perc & septic design if needed 1500-3000Treescaping & cleanup for retail sale 500-1500Selling costs of 6%I tend to stay clear of properties that need more than the above expense items.  

Staying Flexible in NegotiationsAs agents, licensees are bound by ethical and legal rules that may limit how they negotiate or market deals.

Subchapter D of Chapter 5 of the Texas Property Code@Ryan Mcpherson  Stay away from Sub2 Sharks. 

Pros - guaranteed rent, tenants stay longer on averageCons - more mgmt needed (lease violations), they tend to not take great care of properties (increase maintenance expense or deferred maintenance)

If you are willing to do some work, you can force appreciation, capture some equity, which boosts rent-to-value.In terms of areas to avoid, I would stay away from the East side, particularly anything along Post road between Pendleton Pike and I-74. 

I can think of a couple of seemingly great reasons to stay in the deal, which would be 1) they'd get a portion of the rent we'd be paying to live there (again, I assume this would be split 2:1:1), and 2) if we live in the house for a couple of years, couldn't we sell it tax-free, since we would be owner-occupants?

My first impression is that your numbers in the current economic climate seem a little rosy.I also have friends that are builders and I try to stay in touch with them on costs as we mostly do "to the studs" renovations when we buy a place. 

@Nick WimmelYou can get decent cash flow and demand for rentals is likely to stay strong in the area given the proximity to major job centers in Cincinnati and Dayton

I am basically looking for a cashflow property in the Lehigh Valley or anywhere else, but I would love to visit the property as I am staying in the NJ/NY region.

I recommend that you stay on the safe side and do send 1099s to your wholesalers.You do not need to send 1099-NEC in these cases:You paid the contractor electronically (more on this below)You paid the person a total of less than $600 during 2023Payments for purchasing all kinds of goods, materials, and property, including real estate itselfThe person who worked for you is a corporation, and you made payments to his corporation.